Al-Baraka wins Egypt ribbon

United Arab Emirates-based private player Dana Gas said its Al-Baraka well in southern Egypt had won a prize for “Best New Concept” from the Egyptian Petroleum Exploration Society.

The prize, for the well on the Komombo concession on the western bank of the Nile, was given at the society’s recent awards ceremony, Dana said. First oil from the well flowed in December last year, four months after the initial discovery. The company said in a statement that the award recognized its important discoveries in southern Egypt, which it said had boosted development of the area’s resources. “Southern Egypt is incredibly important to the country’s oil and gas industry,” said Hany Elsharkawi, Dana’s Egypt country director. “Dana Gas’s achievement in the area as the first to discover oil in commercial quantities in southern Egypt paves the way for discovery of more reserves,” he said. Dana, headquartered in the emirate of Sharjah, produced 32,000 barrels of oil equivalent per day in Egypt at the end of last year, it said, including flows from new discoveries in the Nile Delta. The company plans to drill 19 wells in Egypt in 2008, including 15 exploration wells and four development wells.
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